MINNEAPOLIS, July 24 /PRNewswire-FirstCall/ --
U.S. Bancorp Asset Management, Inc., today announced that
Minnesota Municipal Term Trust II (NYSE: MNB) will redeem shares of the
Remarketed Preferred Stock (preferred stock) in preparation for the
anticipated termination and liquidation of MNB on or before April 15, 2003.
On Aug. 23, 2002, MNB will redeem 160 shares of preferred stock at a
redemption price of $25,000 per share plus accumulated but unpaid dividends
through Aug. 22, 2002. Beneficial owners of shares to be redeemed will be
notified by the paying agent.
Based in Minneapolis, U.S. Bancorp Asset Management, Inc., is a subsidiary
of U.S. Bank National Association. It provides investment management services
to individuals and institutions -- including corporations, foundations,
pension funds, public funds, and retirement plans -- and has combined assets
under management of $116.9 billion as of June 30, 2002. The firm has offices
in Minneapolis, Milwaukee, Madison, Cincinnati, St. Louis, Portland, Seattle,
U.S. Bancorp Asset Management, Inc., serves as the investment advisor to
the First American Funds. U.S. Bank National Association is a separate entity
and wholly owned subsidiary of U.S. Bancorp (NYSE: USB), the eighth-largest
financial services holding company in the United States and a leading provider
of comprehensive banking, trust, investment and payment systems products and
service. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp
on the Web at http://www.usbank.com
Investment products, including shares of closed-end funds, are not
obligations of, or guaranteed by, any bank, including U.S. Bank or any U.S.
Bancorp affiliate, nor are they insured by the Federal Deposit Insurance
Corporation, the Federal Reserve Board, or any other agency. An investment in
such products involves investment risk, including possible loss of the
principal amount invested.
Securities products and services are offered through U.S. Bancorp, Inc.,
member SIPC and NYSE.
Nondeposit investment products are not insured by the FDIC, are not
deposits or other obligations of or guaranteed by U.S. Bank National
Association or its affiliates, and involve investment risks, including
possible loss of the principal amount invested.
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